Tennessee Tax Man Releases New Form for Restaurants, Bars and other On-Premise License Holders

06.25.15
The Tennessee Department of Revenue announced a new price schedule as part of an effort to modernize its forms and tax reporting. All liquor-by-the-drink license holders have to file a price schedule.

Unbeknownst to most, the price schedule is critical evidence in a tax audit. Incorrect pour amounts or prices can lead to massive tax assessments. We have seen assessments of over $100,000 for an innocent error in the amount of each pour, for example.